Sunday, December 29, 2019

Essay on United States vs. Japan Economic State - 889 Words

United States vs. Japan Economic State The United States of America is one of the world leading economic powers in the world. The question is, how does the Unites States compare to other nation powers.Australia ,Cananda , China and Britain are just a few of the nation powers that can compare to the United states. This report will focus more one of the main rivials to the United States and that is Japan. Here is just a sample of Japans Numbers for 2004 compared to the United States. Unite States GDP growth is 4.30% ,unemployment is 5.60% and Inflation Rate is 1.90%. In Japan the GDP growth is 4.50% , unemployment is 4.60% and Inflation Rate is -.04%. . I think this is an important perspective because we really do live in a global†¦show more content†¦The U.S. has reached the even level of inflation—not too hot and not too cold. The Japanese have endured a decade of near zero inflation ,and as of 2004, a outright deflation. However, the Japanese economy shows signs of climbing out of its funk based on it str ong GDP showing. Lets look at the Japan and United States Economics numbers for 2004. Currency: Japan uses the Yen, as The United States Uses the dollar. Exchange Rate 12/31/04 US=$1 and Yen = 110.5. Gross Domestic Product (GDP, at market exchange rate) $4.8 trillion for Japan and for the United States it is $11.50 trillion for 2004. Inflation Rate (consumer prices) Japan actually as a deflation of -0.4% as the United States as a inflation rate of 1.90%. Current Account Balance (2004F): $174.1 billion for Japan and the United States is 187.9 billion .Major Trading Partners for both countries.: Germany, Asian NIEs, China, OPEC Merchandise Exports (2004F): $522.4 billion for Japan and $630.57 billion for the United States. Merchandise Imports (2004F): $395.9 billion for Japan and 647 billion for United States. 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